Universal Health Services, Inc. UHS delivered first-quarter 2021 adjusted earnings of $2.44 per share, which outpaced the Zacks Consensus Estimate by 13.5%. Moreover, the bottom line climbed 41% year over year.The company’s results benefited from growing revenues, partially offset by elevated operating expenses.While adjusted admissions on a same facility basis at the company’s acute care hospital services segment declined 12.1% year over year in the first quarter, the same for behavioral health care services segment fell 4.9% year over year.Quarterly Operational UpdateNet revenues improved 6.5% year over year to $3 billion primarily driven by uptick in revenues across the company’s acute care and behavioural health care facilities. Further, the company’s top line outpaced the Zacks Consensus Estimate by 2.8%.Total operating expenses increased 4.8% year over year to $2.7 billion in the first quarter primarily due to higher salaries, wages and benefits, other operating expenses, supplies expense, depreciation and amortization, and lease and rental expense.Segment UpdateAcute Care Hospital ServicesIn the quarter under review, adjusted patient days on same facility basis slid 0.7% from the prior-year quarter. On same facility basis, net revenues stemming from the company’s acute care services improved 11.7% year over year.Behavioral Health Care ServicesAdjusted patient days on same facility basis plunged 3.8% year over year in the first quarter. Net revenues inched up 0.9% year over year during the quarter on same facility basis from the company’s behavioral health care services.Universal Health Services, Inc. Price, Consensus and EPS Surprise Universal Health Services, Inc. price-consensus-eps-surprise-chart | Universal Health Services, Inc. QuoteFinancial UpdateAs of Mar 31, 2021, the company had cash and cash equivalents of $764.5 million, which plunged 37.6% from 2020 end.As of Mar 31, 2021, total assets fell 2.8% from the 2020-end figure to $13.1 billion.The company’s long-term debt was $3.5 billion, down 0.5% from the figure as of Dec 31, 2020.During the first quarter, net cash provided by operating activities of $71.8 million decreased to seven-fold year over year. This was primarily due to an unfavorable change stemming from repayments of Medicare accelerated payments, partly offset by a positive change arising from higher net income plus depreciation and amortization expense and stock-based compensation expense.Share Repurchase and Dividend UpdateDue to the COVID-19 pandemic induced market uncertainties, the company had temporarily suspended its share buyback activities and quarterly dividend payments. Nevertheless, management has recommenced its share buyback program with immediate effect in April 2021.Notably, its board of directors had approved a first-quarter dividend of 20 cents per share, which had been paid on Mar 31, 2021 to shareholders of record as of Mar 15.Zacks RankUniversal Health currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Medical Sector ReleasesOf the medical sector players that reported first-quarter results so far, the bottom line of UnitedHealth Group Incorporated UNH, HCA Healthcare, Inc. HCA and Anthem, Inc. ANTM beat the Zacks Consensus Estimate.Time to Invest in Legal MarijuanaIf you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Universal Health Services, Inc. (UHS): Free Stock Analysis Report HCA Healthcare, Inc. (HCA): Free Stock Analysis Report Anthem, Inc. (ANTM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research